In fact the building is being held up for the moment by an appeal at the OMB, brought on behalf of the off-shore owners of 205 Yonge Street, which is the vacant Bank of Toronto building immediately to the north. The owners have never had a tenant in their building, and they have allowed it to deteriorate—much to the concern of the Ontario Heritage Trust who hold the Heritage Easement Agreement on the property.

It's probably financially-motivated. I don't see their objection having any planning merit.

MOD is trying to arrange a hearing as soon as possible so that both they and Massey Hall can proceed with their projects. That probably means a few months.